As mentioned in previous editions of Armada Insights, the ATO has ramped up its debt collection activities by issuing Director Penalty Notices for outstanding debts.
The ATO is placing a major focus on income earned from crypto, including any capital gains and losses.
You may have received emails or reminders about registering the “.au” version of your business domain. Your current website domain probably ends in “.com.au” or “.net.au”.
Businesses in Australia are currently experiencing higher levels of debt than they were pre-pandemic. According to the ATO, many SME are carrying six-figure debts, and have been surprised to be issued with a director penalty notice—even though they were already making payments.
Economists are commenting on whether Australia may or may not have a recession next year.
Rising prices have been a hot conversation topic both in the news and within our day-to-day lives. The cost of living squeeze is impacting us all—individuals and businesses alike.